Do you know what the best entity is for your business? Essentially four types of businesses entities exist: Sole Proprietorship, Partnership, Limited Liability Company, and Corporation. Each of these has its positives and negatives, and each has various derivative forms.
Much thought needs to go into the process of selecting the correct business entity. Just because your neighbor told you you need to form a limited liability company does not mean that that is necessarily the correct entity for you and your company. Your needs, goals, tax considerations, liability, risk tolerance, number of present and future partners, and many other important factors must be considered before determining your best business structure. This can be a confusing endeavour, but we can guide you through the process of selecting the right structure now so that you can attain your future business goals. And remember, after properly forming your business, you may have certain periodic obligations to keep your entity in compliance with state, and sometimes federal, laws.
Integrated General Counsel can help you determine and then form the business entity that best meets your needs and objectives. If you are ready for a results-driven plan of action, contact us today!